Northwestern Mutual Wealth Management Co. Raises Stock Position in Reliance, Inc. $RS

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Reliance, Inc. by 50.8% in Q1, bringing their total holdings to 2,853 shares valued at $824,000.
• Reliance reported earnings of $4.43 per share for the last quarter, missing the analysts' estimate by $0.29, despite achieving revenue of $3.66 billion.
• The company recently announced a quarterly dividend of $1.20 per share, translating to an annualized yield of 1.6%, with a payout ratio of 35.04%.

Northwestern Mutual Wealth Management Co. boosted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 50.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,853 shares of the industrial products company's stock after purchasing an additional 961 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Reliance were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC grew its position in Reliance by 138.9% in the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Reliance during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Reliance during the 1st quarter worth about $30,000. Hemington Wealth Management boosted its holdings in shares of Reliance by 18.0% during the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after buying an additional 35 shares during the period. Finally, AlphaQuest LLC bought a new stake in Reliance in the 1st quarter valued at about $80,000. Institutional investors own 79.26% of the company's stock.

Reliance Stock Up 1.0%

Shares of RS traded up $2.92 on Friday, reaching $297.88. The company's stock had a trading volume of 52,430 shares, compared to its average volume of 398,588. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $305.29 and a 200-day moving average of $296.59. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The stock has a market capitalization of $15.67 billion, a PE ratio of 21.74, a PEG ratio of 1.38 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Reliance's dividend payout ratio (DPR) is currently 35.04%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company raised Reliance to a "hold" rating in a report on Thursday, August 14th. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $323.50.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.